The FBM KLCI ended flat, supported by afternoon buying in select blue chips, while lower liners showed mixed performance. The Construction and Property sectors gained, while Technology lagged. In global markets, US stocks rebounded as oil prices eased, while European markets closed lower. Chinese markets experienced a slowdown after a brief surge, with the CSI 300 gaining 5.9% by day’s end.
Inflation data
Looking ahead, the local bourse is expected to trade sideways amid a lack of fresh catalysts. Profit-taking is anticipated in the Energy and Plantation sectors due to falling commodity prices. The upcoming US inflation data and FOMC minutes release will be crucial for insights into future Federal Reserve rate decisions, along with ongoing US corporate earnings reports.
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